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Suppose that there are only two goods, books and coffee. Wally gets utility from both books and coffee, but his indifference curves between them are concave rather than convex to the origin.
a. Draw a set of indifference curves for Wally.
Solve for the new equilibrium quantity (Q**), the sellers price (Ps), and the consumer’s price (P**). Solve for consumer surplus, producer surplus, government revenue and total surplus with the tax.
Microsoft has been a giant in the software industry. Can we define Microsoft as a monopoly? Please explain. In addition, whether the Learner Index works well to define the market power for Microsoft in the software industry? Explain your answer.
The state of Delaland has two types of town. Type A towns are well-to-do, and type B towns are much poorer. Being wealthier, type A towns have more resources to spend on education; their demand curve for education is Q = 100 – 2P, where P is the pric..
You have a project to build a new fence. The fence is a four sided square. Each side is to take one day to build and is budgeted for $1,000 per side.
What is the opportunity cost of continuing to operate the fitness studio within the store?
Construction contracts bring up not only legal questions and considerations but ethical issues as well. After researching common ethical issues related
Mauricio has a circus act, and he has a budget of $720 to spend on monkeys and unicycles. The cost of a unicycle is $120 and the cost of a monkey is $90. Please graph Mauricio\'s budget constraint on the graph below.
Explain the pros and cons of using a change in open market operations to achieve the desired increase in output. Be sure to thoroughly explain how the change will affect equilibrium prices, output, and unemployment.
The Federal Reserve chairman acknowledged the economy was in a recession. What actions might the federal government take to give the economy a boost?
What does risk and risk management mean to you? How would organizations benefit from having a formal risk management program (especially for IT and security)?
We often hear of inflation characterized as a bad thing, but Meyer describes both winners and losers from inflation.
Describe a mixed nash equilibrium strategy in this game. What does each do?
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